United States Contract Management Software Market By Component, Service, By Deployment Mode, By Business Function, By Offering, By Organization Size, By End User Industry, By Region, Forecast & Opportunities, 2025

The United States Contract Management Software Market is expected to grow at a formidable CAGR of around 10% during the forecast period. The United States Contract Management Software Market is driven by the growing demand for agile contract management, changes in compliance, increased complexity owing to diversity in sales and licensing models, among others. Additionally, the surging demand for efficient contract management services to manage the ever-rising contract volumes is further anticipated to propel the market through 2025.

The United States Contract Management Software Market is segmented based on component, deployment mode, business function, offering, organization size, end-user industry, company and region. Based on organization size, the market can be divided into SMEs and large enterprises. The SMEs segment is expected to witness significant growth during forecast period because the contract management software in these organizations can help in better risk mitigation, reduced administrative overhead, reduced cost of compliance, favorable business outcome, among others. Based on the end-user industry, the market can be fragmented into healthcare, BFSI, IT & telecom and others. The healthcare segment dominates the United States Contract Management Software Market since the use of this software in hospitals streamlines their workflow by saving time and mitigating the risk of missing any important steps. Additionally, the effective management of critical contract documents and patient information and records with less manual labor further helps in reducing healthcare costs.

Major players operating in the United States Contract Management Software Market include Aaveneir, Agiloft, Apptus, CLM Matrix, CobbleStone Software, Conga, Concord, ContractWorks, IBM, Determine and others.

Years considered for this report:

• Historical Years: 2015-2018
• Base Year: 2019
• Estimated Year: 2020
• Forecast Period: 2021–2025

Objective of the Study:

• To analyze and forecast the market size of the United States Contract Management Software Market.
• To classify and forecast the United States Contract Management Software Market based on component, deployment mode, business function, offering, organization size, end-user industry, company and regional distribution.
• To identify drivers and challenges for the United States Contract Management Software Market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the United States Contract Management Software Market.
• To identify and analyze the profile of leading players operating in the United States Contract Management Software Market.

The author performed both primary as well as exhaustive secondary research for this study. Initially, researchers sourced a list of service providers across the region. Subsequently, they conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, researchers could include the service providers which could not be identified due to the limitations of secondary research. The author analyzed the service providers, distribution channels and presence of all major players across the region.

The author calculated the market size of the United States Contract Management Software Market by using a bottom-up approach, wherein data for the various end-user segments was recorded and forecast for the future years. Researchers sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied.

Key Target Audience:

• Contract management software service providers, vendors and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to contract management software
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, partners, end-users, etc., besides allowing them in strategizing investments and capitalizing on the market opportunities.

Report Scope:
In this report, the United States Contract Management Software Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Market, By Component:

• Software (Contract Lifecycle Management, Contract Repository/Document Management)
• Services (Support & Maintenance, Implementation and Integration, Training & Education)

Market, By Deployment Model:

• Cloud
• On-Premises

Market, By Business Function:

• Legal
• Sales
• Procurement
• Finance
• Others

Market, By Offering:

• License
• Maintenance
• Subscriptions
• Services

Market, By Organization Size:

• Small & Medium-Sized Enterprises
• Large Enterprises

Market, By Industry Vertical:

• Healthcare
• BFSI
• IT & Telecom
• Others

Market, By Region:

• North-East
• Mid-West
• West
• South

Competitive Landscape

• Company Profiles: Detailed analysis of the major companies present in the United States Contract Management Software Market.

Available Customizations:
With the given market data, the author offers customizations according to a client's specific needs.